He stated that the investment will be directed towards motorsports infrastructure and grassroots development. The investment will be made through a mix of private equity funding and fund infusions by the promoters, he added.
Patel said that the company is in the process of raising funds from private equity players. “We have already diluted a 5% stake in the company to a PE player at a valuation of Rs 350 crore,” he said while refusing to divulge the name of the PE player.
Eeshan Lokhande, who is the other co-founder of the company, said motorsports requires heavy investments due to the kind of infrastructure that is required to host a motorsports competition.
Supercross India has roped in Ceat as the title sponsor and Toyota Hilux as the official vehicle partner of the motorcycle racing league, which will feature six to eight franchises.
Pune-based Panchshil Group and APL Apollo Group are among the companies that have bought Pune and Delhi franchises of the league. “We are in advanced negotiations with other interested parties to sell the franchises,” Lokhande added.The first season of the league is expected to take place in December. The original plan was to hold the league in October. However, the league was postponed to avoid a clash with the ICC Cricket World Cup.The league has seen registrations from 75 riders across the world. The inaugural season of the league will have four racing categories: 450cc international riders only, 250cc international riders only, 250cc India-Asia mix, and 85cc junior class.
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